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"U can risk with some money but gain knowledge..."

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The most important thing while making investments in order to have the safest way to invest your money in the markets given today`s economy and zero interest rate policy of most central banks, there are only two things that will help to earn profits. Knowledge and experience. Break your profile and make various type of investments. Some less profitable but secure, u can risk with some money but gain knowledge. Jack Powell.

"Avoid these situations for your comfortablity otherwise foreclosure of your house will be started..."

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First of all i will say about this question When will banks start foreclosing, that this scenario basically depends on the situation and laws that after how much notices it will start the procedure of foreclosure but after chapter 7 and chapter 14 bank will not take much time to foreclose. Generally after 3 miss payments or 3 months they start warning you for their strict action. So try to avoid these situations for your comfortablity otherwise foreclosure of your house will be started or foreclosure of any property and savings which bank possesses from your side will be auctioned. thank you.

"The lending institutions including the banks starts the foreclosure procedure..."

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Once any individual starts missing out the repayments whatever be the cause, the lending institutions including the banks starts the foreclosure procedure. maximum of you take mortgage loans while you go for purchasing your home. the house you are buying is mortgaged to the banks till you make the entire repayments. therefore once you miss out payments they sell your home. but they cannot sell your other houses or properties unless those are mortgaged to them in the contract. the banks cannot take your other houses while a foreclosure is going.
keegan.

"Typically the bank will only go after bank owned assets..."

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Typically the bank will only go after bank owned assets. If your bank owns both homes, they can pursue both homes. Legally they can also attempt to recoup other costs. While they can not force you to sell your other home, they can use that information when they go to court. The judicial system will scrutinize all your assets to determine what legal course of action can occur. Collection agencies will be involved as well. Unless you claim bankruptcy your other house should be fine.

"The creditor party usually announce a foreclosure of the property of the debtor..."

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Forecolsure is an action whereby the creditors seize the property of the debtor. it can happen if a loaner fails to repay his loans on time. in most of the cases the defaulter gets a grace period within which he has an option to settle the debts or repay. banks will start a foreclosure when a non-payer falls bankrupt. after the court proceedings are over, the creditor party usually announce a foreclosure of the property of the debtor that is already seized by the the formers.
Sandra J.

"Banks take on foreclosure process from 6 months to 2 years..."

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Banks take on foreclosure process from 6 months to 2 years, it depends on your state and your lender.
foreclosure process is initialized after 90 - 120 days from the date your payment is considered late, and this will happen when you miss your next payment and your grace period (usually 15 days) has been expired.
It`s highly recommended to contact with your lender as soon as you know that you are going to miss your next mortgage payment, so that you might get other payment plans.

"By the bank before they start the foreclosure of the property in case the..."

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It takes around 90 days by the bank before they start the foreclosure of the property in case the payments are not made. The banks do not take any action if the payments are not done upto 30 days from the scheduled date. In such a case, only a nominal late fee is charged from the payer. However, if the non- payment of the amount continues for more than 3 months or 90 days to be precise. the bank initiates its process of foreclosure.
Allen Corner.

Teensy63 said: I am a property inspector, and I can tell you that I go into homes that have been sitting empty for 3 or 4 years and the bank still has them sitting just the way they were left by the owners. Do not leave until they make you leave......especially dont panic and leave all your stuff behind....you have time

"Banks foreclosure process might take from 6 months to 2 years..."

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Banks foreclosure process might take from 6 months to 2 years, depending on your state laws and your lender.
A foreclosure process starts after 90 -120 days from the date you miss your payment and your grace period expires (usually 15 days).
As soon as you know you will not be able to pay your next mortgage payment, it`s recommended to contact your lender, so that you might get a longer grace period or you might reschedule your payments.

"The creditor party usually announce a foreclosure of the property of the debtor..."

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Foreclose can happen if a loaner fails to repay his loans on time. banks will start a foreclosure when a non-payer falls bankrupt. after the court proceedings are over, the creditor party usually announce a foreclosure of the property of the debtor that is already seized by the the formers. the bank give you notice in 90 to 120 days and then take action and foreclosing.

"Banks and putting it in a local credit union...."

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I like to use local credit unions to park my cash. Keeps me out of the big banks and helps to keep the money in my community. Try taking your money out of the big banks and putting it in a local credit union.

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